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Simple Machines   Ã‚  Ã‚  Ã‚  Ã‚  A windmill is a machine that uses the wind to turn a wheel of adjustable vanes, slats or sails. As the wheel turns, it turns a shaft, wheels, and gears that power machinery. It is more properly called a â€Å"wind pump,† but most people call it a â€Å"windmill.† Windmills have been used for hundred of years to power machinery used to grind grain such as wheat and corn. Today we also have windmills, called â€Å"wind turbines,† that generate electricity.  Ã‚  Ã‚  Ã‚  Ã‚   All machines are a combination of several simple machines or modifications of one. A simple machine is one that is moved by just one force. The six types of simple machines are the lever, the wheel and axle, the pulley, the inclined plane, the wedge, and the screw. A lever is a long plank, beam or bar that is used to move heavy loads. Examples of a lever are seesaws, scissors, broom, tweezers, and ice-tongs. A wheel is a cylindrical object that rotates about axis of the cylinder. Wheels are on cars and trains. Some wheels turn other wheels, like geared wheels on a bicycle or a clock. Some wheels turn together like the doorknobs, or the knobs on a televisions. A pulley is a grooved wheel. A rope is fitted into the grove and turns the wheel when pulled. An inclined plane is a very simple machine. It has a sloping surface that makes it easier to pull, push, or roll heavy objects. Examples are wheelchair ramps or a stairway. The screw is an inclined plane wound at its edge on a cylinder or cone. Examples of a screw includes faucets,   Ã‚  Ã‚  Ã‚  Ã‚   Saizan 2 screw-in bulbs, and screw-on bottle tops. The wedge is essentially an inclined plane such as knives, blades, nails, needles, pins, wood and axes.

Whip it

Bliss is curious about joining the roller derby team while in Austin, TX for the derby event, but her friend, Pass, is doubtful about her actually trying out for the team. Pass brings up several factors about why Bliss wouldn't try out Including her not having the guts to try out, her not being as tough as the other roller derby girls, and the fact that her mother would disapprove of It. Plus, although Pass TLD exactly mention It, Bliss wasn't the appropriate age to Join the team. She had to be 21 to join the team and she was only 17.I felt like Pass was bringing up all of Bliss' flaws not to put her down, but to make her want to prove her wrong and go for it. As the movie explores the relationship between Bliss and her mother, I feel like nobody's really happy with each other's decisions. Bliss wants to find direction in her life and follow her heart's desire while her mother aspires for her to be a beauty queen like she once was as a teen. Even though they both don't really see eye to eye about their differences, Bliss goes along with her mom's wishes o please her, so in a sense, I suppose her mother is happier in the situation.The things that they have In common are their love for each other even if it's not shown too often throughout the film, and their passion for what they love to do In life: Bliss' roller derby racing and her mother's beauty pageants. How Bliss and her mother view each other Is pretty similar. Her mother sees beauty and Intelligence wealth Bliss, and feels that both can surface by competing in the beauty pageants. Bliss also sees the beauty in her mother, although her mom feels like this has faded away wrought the years.Bliss' mother sees herself as a former beauty queen who has aged and often reflects on the days when she was younger. Bliss sees herself as a girl who just isn't the beauty pageant type, but has other special qualities about her that may not set well with her mother. I view Bliss as a girl who knows that there's courage a nd strength within her and strives to bring them out. From the very beginning of the movie, I felt that she knew there was a certain path she was supposed to be following but was uncertain of what It was.From her dyeing her hair blue and becoming Interested In roller derby at the head shop that day, I think she knew that she was different and was destined to be a free spirit. I view her mother as someone who honestly just wants the best for her daughters, but can be too overprotective of them and unreceptive to what they truly want out of life. She's definitely strong and stands firm in her beliefs, it even showed in her facial expressions that she was a woman of dignity. I got the feeling that she knew how tough life can be and she didn't want her daughters going through any mind of pain if she could help it.I could see her reasons for wanting to protect Bliss from the world, but I feel that she shouldn't have pushed her beauty pageant dreams onto Bliss. With Bliss' participation i n roller derby racing, I feel like it liberated her and helped her confront her mother about what she really wants to do with her life. I also feel that she gave her father a sense of pride which we can see by him putting her Jersey number In the yard at the end of the movie. We could see how her decision affected her family as a whole.What roller derby almost costs her was her almost consumed by her newfound life of roller derby, and she had to really face the good and bad that came with it. Vive experienced this as well with some of my leisurely choices. Vive learned that no matter what you're passionate about, there's always an upside and downside waiting for you Just down the road. The key to not letting the downsides knock you off your axis is to stay focused and to never let friends and family fall to the wayside while pursuing that passion.

Impressment and the Chesapeake-Leopard Affair

The impressment of United States seamen from American ships by the British Royal Naval created serious friction between the United States and Britain. This tension was heightened by the Chesapeake-Leopard Affair in 1807 and was a major cause of the  War of 1812.   Impressment and the British Royal Navy Impressment denotes the forceful taking of men and placing them into a navy. It was done without notice and was commonly used by the British Royal Navy in order to crew their warships. The Royal Navy normally used it during wartime when not only British merchant sailors were â€Å"impressed† but also sailors from other countries. This practice was also known as â€Å"the press† or â€Å"press gang† and it was first used by the Royal Navy in 1664 at the onset of the Anglo-Dutch wars. Although most British citizens strongly disapproved of impressment as being unconstitutional because they were not subject to conscription for other military branches, the British courts upheld this practice. This was mainly due to the fact that naval power was vital to Britain maintaining its’ existence.   The HMS Leopard and the USS Chesapeake In June 1807, the British HMS Leopard opened fire on USS Chesapeake which was forced to surrender. British sailors then removed four men from the Chesapeake who had deserted from the British Navy. Only one of the four was a British citizen, with the three others being Americans who had been impressed into British naval service. Their impressment caused widespread public outrage in the U.S. At the time, the British, as well as most of Europe, were engaged in fighting the French in what is known as the Napoleonic Wars, with the battles starting in 1803. In 1806, a hurricane damaged two French warships, the Cybelle  and  Patriot, which made their way into Chesapeake Bay for necessary repairs so that they could make the return trip to France.   In 1807, the British Royal Navy had a number of ships, including the Melampus and the  Halifax, which were conducting a blockade off the United States coast in order to capture Cybelle and Patriot if they became seaworthy and left Chesapeake Bay, as well as prevent the French from obtaining much needed supplies from the U.S. Several men from the British ships deserted and sought the protection of the U.S. government. They had deserted near Portsmouth, Virginia, and made their way into the city where they were seen by naval officers from their respective ships. The British request that these deserters be handed over was completely ignored by local American authorities and enraged Vice Admiral George Cranfield Berkeley, the Commander of the British North American Station at Halifax, Nova Scotia. Four of the deserters, one of which was a British citizen - Jenkins Ratford – with the three others – William Ware, Daniel Martin, and John Strachan – being Americans who had been impressed into British naval service, enlisted in the U.S. Navy. They were stationed on the USS Chesapeake which just happened to be moored in Portsmouth and was about to embark on a trip to the Mediterranean Sea. Upon learning that Ratford had been bragging about his escape from the British custody, Vice Admiral Berkeley had issued an order that if a ship of the Royal Navy should find the  Chesapeake at sea, it was that ship’s duty to stop the Chesapeake and capture the deserters. The British were very intent on making an example of these deserters. On June 22, 1807, the Chesapeake left its’ port Chesapeake Bay and as it sailed past Cape Henry, Captain Salisbury Humphreys of the HMS Leopard sent a small boat to the  Chesapeake  and gave Commodore James Barron a copy of Admiral Berkeley orders that the deserters were to be arrested.   After Barron refused, the Leopard fired almost point blank seven cannon balls into the unprepared Chesapeake which was outgunned and therefore was forced to almost immediately surrender. The Chesapeake suffered several causalities during this very brief skirmish and in addition, the British took custody of the four deserters. The four deserters were taken to Halifax to be tried. The Chesapeake had suffered a fair amount of damage, but was able to return to Norfolk where the news of what had taken place quickly spread.   Once this news was made known throughout the United States which had very recently rid itself of British rule these further transgressions by the British was met with complete and total disdain.   American Reaction The American public was furious and demanded that the United States declare war against the British.   President Thomas Jefferson proclaimed that â€Å"Never since the Battle of Lexington have I seen this country in such a state of exasperation as at present, and even that did not produce such unanimity.† Although they were normally politically polar opposites, the Republican  and  Federalist parties were both aligned and it appeared that U.S. and Britain would soon be at war. However, President Jeffersons hands were tied militarily because the American army was small in number due to the Republicans desire to reduce government spending. In addition, the U.S. Navy was also quite small and most ships were deployed in the Mediterranean attempting to stop the Barbary pirates from destroying trade routes. President Jefferson was intentionally slow in taking action against the British knowing that the calls from war would subside – which they did. Instead of war, President Jefferson called for economic pressure against Britain with the result being the  Embargo Act. The Embargo Act proved to be highly unpopular with American merchant who had benefited for nearly a decade from the conflict between the British and the French, collecting large profits by conducting trade with both sides while maintaining neutrality. Aftermath In the end, the embargoes and economic did not work with the American merchants losing their shipping rights because Great Britain refused to make any concessions to the U.S. It seemed evident that only war would restore the United States autonomy in shipping. On June 18, 1812, the United States declared war against Great Britain with a major reason being trade restrictions which had been imposed by the British. Commodore Barron was found guilty of â€Å"neglecting on the probability of an engagement, to clear his ship for action,† and was suspended from the U.S. Navy for five years without pay. On August 31, 1807, Ratford was convicted by court-martial for mutiny and desertion among other charges. He was sentenced to death the Royal Navy hanged him from a sail mast of the HMS  Halifax – the ship that he had escaped from looking for his freedom. While there is truly no way of knowing just how many American sailors were impressed into the Royal Navy, it is estimated that over one thousand men were impressed per year into the British service.

Corporate Strategy Of The Business Diversification

Business Diversification The corporate strategy of the business diversification is to create a synergy to achieve more performance under a single umbrella rather than diverse business units (SNU, 2016). A business diversification is to build the company shareholder value when the independent business units can perform under a single corporation as an umbrella organization instead of independent parents or a corporation. A diversified organization has many business units and each business units have its own business level strategy irrespective of whether they are related or not. A successful business diversification not only spreads the business risk across the diverse units but also adds a long term economic value to the company. The strategy for starting a new business is based on industry attractiveness test, the cost of entry and the better off test (Thompson, Peteraf, Gamble, and Strickland, 2016). A company with a business diversification consistently grew its profit by developing a diversified expansion plan beyond its core boundary compares to a new initiative. Repeatability allows a company to learn the mistakes made and support the systematic growth of the business a complex process. (Zook and Allen, 2003) Target Corporation diversification strategy - related businesses Target Corporation is one of the largest retail companies in the U.S that employs many diverse products and technique as part of its operations. Target Corporation s overall diversificationShow MoreRelatedEssay about Business-Level and Corporate-Level Strategy1104 Words   |  5 PagesIntroduction Knowing your business-level and corporate-level strategy can maximize the life of your organization. The business-level strategy focus on creating a value offering that is appealing to consumers while also being cost-effective. The business-level strategies determine who they will serve, what product or service will meet the needs of their targeted customers, and how they will keep their customers satisfied (Harvard, 2012). Corporate-level strategies help drive an organization andRead MoreFrom Competitive Advantage to Corporate Strategy.1303 Words   |  6 Pagesadvantage to Corporate strategy. A diversified company has 2 levels of strategy: 1. Business unit (competitive): how to create competitive advantage in each business? 2. Corporate (companywide): concerns two different questions: what businesses the corporation should be in and how the corporate office should manage the array of business units? Most corporate strategies have dissipated instead of created shareholder value. Now we have to rethink to corporate strategy according toRead MoreHow And Who Makes Strategy At The Corporate Level1631 Words   |  7 PagesQuestions on Chapter 9 1. How and who makes strategy at the corporate level? How companies with multi business Model formulate their strategies and what they target in their strategies. Corporate level includes chief executive officer (CEO) board of directors, corporate staff whose responsibility to supervise the strategic development and to make sure that business strategies are followed correctly with maximizing profitability and sustain competitive advantage. Strategic managers decide in whichRead MoreDiversification Strategy at GE933 Words   |  4 Pagesï » ¿Introduction Diversification strategy is noted by Martà ­nez-Campillo, Fernà ¡ndez-Gago (2011) as a type of corporate strategy that is employed by an organization that aim at increasing its profitability by means of enhanced sales volume which is realized via the engagement in new markets as well as new products. Diversification can take place either at a corporate level or at business level. 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Financial performance, unions and achievements, human resource management and the distribution of resources are considered part of corporate level strategy. Usually senior manager makes strategy decision at corporate level. Units are identified as cost centers, profit centers or investment centers. Essentially, this suggests that corporate objectives can be brokenRead MoreWhy Diversification Has A Relationship With Csp997 Words   |  4 PagesIn addition, Clarkson (1995) argues that some of corporate responsibilities to stakeholders are also related to social concern from society’s perspective. Furthermore, Brammer et al. (2006) state CSP has become principal component of business organization performance since a firm undertaking intense pressure from stakeholders, such as customers, employees, and socially responsible investors, to show their commitment a nd contribution to society in social and environmental issue. Hence, we may argueRead MoreCorporate Level Strategy1199 Words   |  5 PagesAPPLE COMPUTER INC.: - CORPORATE-LEVEL STRATEGY REVIEW - A review on the strategy adopted by Apple Inc. at corporate level to ensure that the company remains at the forefront of the electronic media industry either in terms of innovation and range of products . EXECUTIVE SUMMARY An analysis was done on Corporate-Level Strategies adopted by Apple Computer Inc. (â€Å"Apple Computer†) that has brought tremendous success to the firm since it started. Apple Computer started off in 1976 by Steve JobsRead MoreThe Walt Disney Company: the Entertainment King Essay1589 Words   |  7 Pages I. Why has Disney been successful for so long? Disney’s long-run success is mainly due to creating value through diversification. Their corporate strategies (primarily under CEO Eisner) include three dimensions: horizontal and geographic expansion as well as vertical integration. Disney is a prime example of how to achieve long-run success through the choices of business, the choice of how many activities to undertake, the choice of how many businesses to be in, the choice of how to manageRead MoreCase Study : Corporate Level Strategy1234 Words   |  5 Pages99836 Chapter 9 1) Corporate level strategy is afraid with the strategic decisions a business makes that affect the entire organization. Financial performance, unions and achievements, human resource management and the distribution of resources are considered part of corporate level strategy. Usually senior manager makes strategy decision at corporate level. Units are identified as cost centers, profit centers or investment centers. Essentially, this suggests that corporate objectives can be broken

Same Sex Marriage Should Be Legal - 993 Words

Same sex marriage has been a huge topic for many years. Some states have ruled it unconstitutional, and some have disagreed, and even passed a law to allow same sex couple to legally get married. Should we punish people for wanting to show and express their love for one another? Me personally, I feel that these people should be allowed to show their love for one another the same as a man marring a woman. The only difference in their love is sexual preference and I don’t think that should be a huge deal. Here in the United States we voted on giving everyone equal rights, and that gives people the right of privacy, â€Å"freedom of speech†, and freedom and religion. Whenever there is talk about giving same sex couples the right to get married, I always hear different bible versus being thrown into the matter. We all sin in different ways, but we judge those with different sins than ours. Is this the right thing to do? The bible has no place when it comes to our laws and rights as human beings. Opposing gay marriage, in my personal opinion is another form of bias, and racism. This argument is not any different from when African Americans (â€Å"colored†) couldn’t drink from the same water fountain or even ride on a bus next to Caucasians. We as humans act as if we deny them the right to get married like a â€Å"traditional couple† they would all of a sudden change the way that they live, and stop loving the people they love. Are we that naà ¯ve? Is this even fair to those individuals. JustShow MoreRelatedSame Sex Marriage Should Be Legal1288 Words   |  6 Pages Marriage is not precisely the same as it used to be interpreted. For example, women used to be their husband’s property. Sometimes the women were forced to marry whoever their parents wanted them to marry and most of the time they couldn’t leave the marriage. Nowadays women have more freedom. 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Factor Affecting Job Satisfaction in Banks Free Essays

A Banker on whom a cheque is drawn should pay the cheque when it is presented for payment. * This cheque paying function is a distinguished one of a banker. * This obligation has been imposed on him by sec. We will write a custom essay sample on Factor Affecting Job Satisfaction in Banks or any similar topic only for you Order Now 31 of the N. I Act, 1881. * A banker is bound to honour his customer’s cheque, to the extent of the funds available and the existence of no legal bar to payment. Again, for making payment the cheque must be in order and it must be duly presented for payment at the branch where the account is kept. * The paying banker should use reasonable care and diligence in paying a cheque, so as to abstain from any action likely to damage his customer’s credit. * If the paying banker wrongfully dishonours a cheque, he will be asked to pay heavy damages. * At the same time, if he makes payment in a hurry, even when there is sufficient balance, the banker will not be allowed to debit the customer’s account. If he does so, it will amount to sanctioning of overdraft without prior arrangement, and later on, the customer can claim it as precedent and compel the banker to pay cheque in the absence of sufficient balance. His position is very precarious and is in between the devil and the deep sea. PRECAUTIONS BEFORE HONORING A CHEQUE In order to safeguard his position, the paying banker has to observe the following precautions before honouring a cheque. Presentation of The Cheque (a) Type of the cheque: Before honouring a cheque, he must find out the type to which it belongs. Cheques may generally be of two types- open or crossed. If it is an open one, the payment may be made at the counter. If it is crossed, the payment must be made only to fellow banker. If it is specially crossed, the payment must be specifically made to that banker in whose favour it has been crossed. If there are ‘A/C Payee’ and ‘Not Negotiable’ crossings the paying banker need not worry, as they are the directions only to the collecting banker. If the paying banker pays a cheque contrary to the crossing, he is liable to the drawer. Therefore, he must pay special attention to the type of a cheque. b) Branch: The Paying banker should see whether the cheque is drawn on the branch where the account is kept. If it is drawn on another branch, without any prior arrangement, the banker can safely return the cheque. (c) Account: Even in the same branch, a customer might have opened two or more accounts. Hence, the paying banker should see that the cheque of one acco unt is not used for withdrawing money from another account. (d) Banking hours: The paying banker should also note whether the cheque is presented during the banking hours on a business day. Payment outside the banking hours does not amount to payment in due course. e) Mutilation: If a cheque is torn into pieces or cancelled or mutilated, then, the paying banker should not honour it. He should return the cheque for the drawer’s confirmation. In a case cheque is torn accidentally, the drawer must confirm it by writing such words as ‘Accidentally torn by me’ and affixing his full signature. A cheque torn into two or more pieces is generally returned with a remark ‘Mutilated’. Form of cheque: Printed form: The cheque must be in proper form. It must satisfy all the requirements of law. The customers should draw cheques only on the printed leaves supplied by the bankers. Unconditional order: The cheque should not contain any condition. If it is a conditional one, the paying banker’s position will become critical and he may not honour it. Date: Before honouring a cheque, the bank must see whether there is a date on the instrument. If it is undated, it cannot be regarded as a valid instrument. If a cheque is ante- dated, it may be paid if it has not become stale by that time. A cheque, which is presented after six months, from the date of its issue, is a stale one. If a cheque is post- dated, he should honour it only on its due date. Amount: The next important precaution is that the banker should see whether the amount stated in the cheque, both in words and figures, agree with each other. If the amount is stated only in figures, the banker should return it with a remark ’Amount required to be stated in words’. However if the amount stated only in words, the banker may honour it. Supposing , there is a difference in the amount stated in words and figures, then the banker can take any one of the following courses available to him: i) He can dishonour the cheque with a memorandum ‘words and figures differ’ or i)He can honour the amount stated in words According to Sec. 18 of the N. I. Act, if the amount undertaken or ordered to be paid is stated differently in figures and words, the amount stated in words shall be the amount undertaken or ordered to be paid. ’ However in practice, if the difference is insignificant, payment is sometimes made. But usually the paying banker returns t he cheque under such circumstances, since there is an audit objection to the practice of honouring such cheques. III. Sufficient balance: There must be sufficient balance to meet the cheque. If the funds available are not sufficient to honour a cheque, the paying banker is justified in returning it. So, before honouring a cheque, he must check up the present state of his customers account. IV. Signature of the drawer: The next important duty of a paying banker is to compare the signature of his customer found on the cheque with that of his specimen signature. If he fails to do so and if he pays a cheque , which contains a forged signature of the drawer, then, the payment will not amount to payment in due course. Hence, he can not claim protection under Sec. 85 of the N. I. Act. If the signature has been too skillfully forged for the banker to find it out, even then the banker is liable. However, if the customer facilitates the forgery of his signature by his conduct, then, the banker will be relieved from his liability. Legal bar: The existence of legal bar like Garnishee Order limits the duty of the banker to pay a cheque. Garnishee order refers to the order issued by a court attaching the funds of the judgment debtor (i. e. , the customer) in the hands of a third party (i. e. , the banker). The term ‘Garnishee’ refers to the person who has been served with the order. This Garnishee proceedings comprise of two steps. As a first step ‘Garnishee Order Nisi’ will be issued. ‘Nisi’ means ‘unless’. In other words, this order gives an opportunity to the banker to prove that this order could not be enforced. If the banker does not make any counterclaim, this order becomes absolute one. This ‘garnishee Order absolute’ actually attaches the account of the customer. If it attaches the whole amount of a customer’s account, then, the banker must dishonour the cheque drawn by that customer. He can honour his cheques to the extent of the amount that is not garnished. Endorsement: Before honouring a cheque, the banker must verify the regularity of endorsement, if any, that appears on the instrument. It is more so in the case of an order cheque, which requires an endorsement before its delivery. For instance, if there is per pro endorsement, the banker must find out the existence of authority. Failure to do so constitutes negligence on the part of the paying banker. Per pro endorsement is an endorsement made by an authorized agent. Prior information about the delegation of authority to the agent must have been given to the banker. Otherwise, a banker is not legally bound to accept this type of endorsement. CIRCUMSTANCES UNDER WHICH A CHEQUE CAN BE DISHONORED Countermanding: Countermanding is the instruction given by the customer of a bank requesting the bank not to honour a particular cheque issued by him. When such an order is received, the banker must refuse to pay the cheque. If a customer informs by telephone or telegram regarding the stopping payment of a cheque, the banker should diplomatically delay the payment, till written instructions are received. If the situation is very critical, he can return the cheque by giving a suitable answer like ’payment countermanded by telephone and postponed pending confirmation. Therefore, countermanding instructions, once received, must be kept as a constant record. A ‘stopped payment’ register may be maintained for ready reference. Upon the receipt of notice of death of a customer: When a banker receives written information from an authoritative source, (preferably from the nearest relatives) regarding the death of a parti cular customer, he should not honour any cheque drawn by that deceased customer. If the banker is unaware of the death of a customer, he may honour the cheque drawn by him. Death puts an automatic end to the contractual relationship between a banker and his customer. Upon the receipt of notice of insolvency: Once a banker has knowledge of the insolvency of a customer, he must refuse to pay cheques drawn by him. Upon the receipt of notice of insanity: Where a banker receives notice of a customer’s insanity, he is justified in refusing payment of the cheque drawn by him. The banker should make a careful note, when the lunacy order is received. It is advisable that the banker should act upon a definite proof of the customer’s insanity like a doctor’s certificate, a court order etc. Upon the receipt of notice of assignment: The bank balance of a customer constitutes an asset and it can be assigned to any person by giving a letter of assignment to the banker. Once an assignment has been made, the assignor has no legal rights over the bank balance and therefore, if any cheque is drawn by him, the banker should refuse to honour it. When a breach of trust is intended: In the case of a trust account, mere knowledge of the customer’s intention to use the trust funds for his personal use, is a sufficient reason to dishonour his cheque. Defective title: If a person who brings a cheque for payment has no title or his title is defective, the banker should refuse to honour the cheque presented by him. For instance, a person who brings a cheque, which has been countermanded or which has been forged, has no title to it. Statutory Protection to a Paying Banker: Supposing, a paying banker pays a cheque, which bears a forged signature of the payee or endorsee, he is liable to the true owner of the cheque. But, it is quite unjustifiable to make the banker responsible for such errors. It is so because; he is not expected to know the signature of the payee or the endorsee. Therefore, law relieves the paying banker from his liability to the true owner in such cases. This relief is known as ‘statutory protection. ’ To claim protection under Sec. 85 of the N. I. Act, 1881, the banker should have fulfilled the following conditions: * He should have paid an order cheque. * Such a cheque should have been endorsed by the payee or his order. * It should have been paid in due course. PAYMENT IN DUE COURSE The cheque should have been paid in due course as per Sec. 0 of the N. I. Act. This concept of payment in due course has three essential features: (I) Apparent tenor of the instrument: To avail of the statutory protection, the payment should have been made according to the apparent tenor of the instrument. The apparent tenor refers to the intention of the parties, as it is evident from the face of the instrument. Example: If a drawer draws a cheque with a post –date, his intention is to make payment only after a certain date. If it is paid before the due date, this payment does not amount to payment in due course. So also, the payment of a countermanded cheque does not amount to payment in due course. (ii) Payment in good faith and without negligence: Good faith forms the basis of all banking transactions. As regards negligence, the banker may sometimes be careless in his duties, which constitutes an act of negligence. If negligence is proved, the banker will loss the statutory protection given under Sec. 85. Example: * Payment of a crossed cheque over the counter. * Payment of a post-dated cheque before maturity. * Failure to verify the regularity of an endorsement. iii)Payment to a person who is entitled to receive payment: The banker must see that the person, who presents the cheque, is in possession of the instrument and he is entitled to receive the amount of the cheque. Protection to a bearer cheque: Now this protection has been extended to bearer cheques also under sec. 85(2). If a bearer cheque is paid in due course, the banker is entitled to get protection. Statutory Protection in the case of a Materially Altered Cheque: A paying banker cannot normally claim any statutory protection for a materially altered cheque. However; Sec. 89of the Negotiable instrument Act. Gives protection in the case of a materially altered cheque provided, (1) He is liable to pay, (2)Such an alteration is not apparent and, (3) The banker has made the payment in due course. Recovery of Money Paid by Mistake: Under the following circumstances, money wrongly paid can be recovered:- (i)Money received mala fide is recoverable: When a person receives money by mistake in bad faith, knowing that he is not entitled to receive that money, then, the banker is entitled to recover the same. (ii) Money paid under a mistake of fact is recoverable: For instance, a banker pays money to X, thinking that he is Y. This is a mistake of fact regarding the identity of the parties. Y is under a legal duty to pay the money back to the banker. COLLECTING BANKER A collecting banker is one who undertakes to collect the amount of a cheque for his customer from the paying banker. In collecting a cheque, the banker can act in two capacities namely (1) as a holder for value, and (2) as an agent for collection. The banker would be as a holder for value: (a) If he allows his customers to withdraw money before cheques paid in for collection are actually collected and credited. b) If any open cheque is accepted and the value is paid before collection, and (c) If there is a reduction in the overdraft account of the customer before the cheque is collected and credited in the respective account. In all these cases, the banker acquires a personal interest. A Banker as an agent: In practice, no banker credits a customer account even before a cheque is collected. He collects a cheque on behalf of a customer. So, he cannot acquire any of the rights of a holder for value. He has to act only as an agent of the customer. Duties of A Collecting Banker: i) Exercise reasonable care and diligence in his collection work: When a banker collects a cheque for his customer, he acts only as an agent of the customer. He should exercise reasonable care, diligence and skill in collection work. (ii) Present the cheque for collection without any delay: The banker must present the cheque for payment without any delay. If there is delay in presentment, the customer may suffer losses due to the insolvency of the drawer or insufficiency of funds in the account of the drawer or insolvency of the banker himself. In all such cases, the banker should bear the loss. iii) Notice to customer in the case of dishonour of a cheque: The N. I. Act has prescribed a reasonable time for giving the notice of dishonour. If he fails to do so, and consequently, any loss arises to the customer, the banker has to bear the loss. (iv) Pr esent the bill for acceptance at an early date: As per sec. 61 of the N. I. Act, a bill of exchange must be accepted. If a banker undertakes to collect bills, it is his duty to present them for acceptance at an early date. (v) Present the bill for payment: The banker should present the bills for payment in proper time and at proper place. If he fails to do so and if any loss occurs to the customer, then, the banker will be liable. According to Sec. 66 of N. I. Act a bill must be presented for payment on maturity. (vi) Protest and note a foreign bill for non-acceptance: In case of dishonour of a bill by non-acceptance or non-payment, it is the duty of the collecting banker to inform the customer immediately. Generally he returns the bill to the customer. In the absence of specific instructions, collecting bankers do not get the inland bills noted and protested for dishonour. If the bill in question happens to be a foreign bill, the banker should have it protested and noted by a notary public and then forwarded it to the customer. Statutory Protection to the collecting Banker: According to sec. 131 of the N. I. Act, statutory protection is available to the collecting Banker in the following cases: (i)Crossed cheques only: a collecting banker only for crossed cheques can claim statutory protection. It is so because, in the case of an open cheque, it is not absolutely necessary for a person to seek the service of a bank. ii) Collections on behalf of customers as an agent: a banker only can claim the above protection for those cheques collected by him as agent of his customers. iii) In good faith and without negligence: In order to get the protection under this section, a collecting banker must act in good faith and without negligence. Matter of negligence is of great importance. Basis of negligence: When a collecting banker wants to claim protection under S ec. 131, he has the burden of proving that he has acted without negligence. Gross negligence: If a banker is completely careless in collecting a cheque, then, he will be held liable under the ground of ‘gross negligence. ’ Examples: Collecting a cheque crossed ‘A/C payee’ for other than the payee’s account: Account payee crossing is a direction to the collecting banker. If he collects a cheque crossed ’A/C payee’ for any person other than the payee, then, this fact will be proved as an evidence of gross negligence. FAILURE TO VERIFY THE CORRECTNESS OF ENDORSEMENT If a banker omits to verify the correctness of endorsements on cheques payable to order, he will be deprived of the statutory protection. i)Failure to verify the existence of authority in the case of per pro signatures: If a collecting banker fails to verify the existence of authority in the case of per pro signatures, if any, will be proved as an evidence of gross negligence. (ii) Negligence connected with the immediate collection: If, on the face of a cheque, there is a warning that there is misappropriation of money, the collecting banker should make some reasonable enquiry and only after getting some satisfactory explanations, he can proceed to collect cheques. Examples: * Collecting a cheque drawn against the principal’s A/c, to the private A/c of the agent without enquiry. * Collecting a cheque payable to the firm to the private A/c of a partner without enquiry. * Collecting a cheque payable to the company to the private account of a director or any other officer without enquiry. * Collecting a cheque payable to the employer to the private account of the employee would constitute negligence under sec. 131 of the N. I. Act. * Collecting a cheque payable to the trustee, to the private account of the person operating the trust account is another instance of negligence of a banker. iii) Negligence under Remote Grounds: Normally, we cannot expect a banker to be liable under certain circumstances. But, the bankers have been held negligent under those situations, which are branded as ‘remote grounds. ’ Examples: * Omission to obtain a letter of introduction from a new customer causes negligence. * Failure to enquire into the source of supply of large funds into an account, which has been kept in a poor condition for a long time, constitutes negligence. How to cite Factor Affecting Job Satisfaction in Banks, Essay examples

Managing Across Global Cultures

Question: Write an essay on international business analysis. Answer: Introduction China is a developed economy with a string economic growth witnessed in the last decade. The economic growth has accelerated its GDP growth and he overall economic growth of the country. China has witnessed a 1.1 % increase in the GDP growth rate in the first quarter of 2016, which has surpassed the forecasts and estimation made for the Chinese economy. The annual growth rate in China in the last year was 7.3 % with the highest being 9% in the last decade (Ang and Van Dyne 2015). The strong economic growth has attracted foreign companies across the globe. The foreign investment in China generally tends to lend important benefits to the company. The increasing foreign markets in China and the ever increasing economic growth of China attract foreign companies in China. However, this was not the case with McDonalds in their business endeavors in China (Erickson 2016). The research paper focuses its study on the business endeavors of McDonalds in China and the outlines the causes for the failure of it in China. The research paper critically analyses the business model of the company and shed critical light into the cultural differences between the two countries. The underlying issue of cross cultural management issue is critically handled and addressed and necessary recommendations are also provided. Discussion The case study of McDonalds business endeavors in China is taken and the research paper gives an overview of the case study. McDonalds is worlds largest chain of fast food restaurants serving 68 million of people and operating in 119 countries. The growing business scale of McDonalds made it enter the Chinese market and decided to expand its market in China (Erickson 2016). However, an 8.3 % slump in the profitability and growth of McDonalds in Chinese markets made the company to shutter 220 stores in China. The company has been planning to shut down the stores in China due to low profitability of the company in the country and the lack of demand from the customers in China. The latest 8.3 slump in the growth and profitability of the company has led the company into shutting down stores in China and facing huge loss liability in the country (Moore 2015). It has been noticed that the cultural gap and cross cultural management issues were a contributing factor to the loss faced by the company in China. The two contributing factors of the companys failure in the country has been the controversy relating to the supply of meat to the company, which involved the mixing of meat of chicken and beef that were beyond the expiring date. This created a stir in the public and the episode created a major blot on the image of the country. The public however, took the incident seriously and maintained a hesitant attitude towards procurements and purchase from the restaurant. McDonalds failed to address and meet the daily requirements of the customers in China and the changing demands and requirements culminated into the decline of the operations and profitability of the company in China. Also, the changing lifestyles and habits of the public were a major cause for the changing demand to the products of the company (Spencer Oatey and Franklin 2014 ).The case study of McDonalds failure in China needs to be analyzed and studied from a cultural point of view. The case study stresses on the cultural differences between the two countries for the cause of the decline of the companys business in China. The cultural gulf between the eastern and western countries has been a major cause for the decline of the company in China. The inability of the company to bridge the gulf between cultural perspectives of the countries is another reason and cause for the failure of McDonaldss China. The evaluation and the assessment of business model of the company highlights the areas where the company fails in meeting the requirements and demands of the consumers (Spencer Oatey and Franklin 2014). The scandal relating to the supply of meat by a supplier in McDonalds was one of the biggest causes of its downfall. The meat, which was a mixture of chicken and beef were way past the expiry date. This caused a great alarm among the Chinese customers. The concerns regarding health and safety issues turned out to be the biggest cause of concern and downfall for the company. It is inferred that the Chinese customers are very susceptible to scandals and controversies and the impact of such scandals and controversies have a lasting impression on their mind. In such scenario, McDonalds suffered a major setback in terms of this controversy. More and more consumers started protesting against meat laced with antibiotics. The questions over the quality and assurance about quality of substance were highly raised and the controversy dragged the company to the court regarding the fact that the move had jeopardized the health of the people and the company had compromised the health and safety of the consumers for profit motive (Chaney and Martin 2013). The notion of Chinese customers against fast food is that quality is not the primary motive. Despite the fact that McDonalds ensures quality of the food, the conceived notion of the people is that it only gives back reasonable return on the price of the food that is provided since McDonalds items are cheap as a part of their expansion policy. The people of China would raise similar concern and worry about the consistency of quality and conformity to health and safety issues regarding food in fast food chain of restaurants. It is a part of their cultural views. The globalization strategy of McDonalds could not compete or understand the localization factor in terms of food among the Chinese people. This inability of McDonalds turned out to be the undoing of the company in China (Ang and Van Dyne 2015). The taste and preference of the customers is an element of the culture and views of a people. It affects the demand pattern and is one of the major causes that affect the demand and the purchasing trend of the people. It was seen that urbanization had affected the lifestyle and the income spending ability of the people. This had paved the way for the scope of growth and rich prospect for foreign markets. This was however not the case with McDonalds. Brand loyalty and brand awareness is a part of a cultural view of people. The Chinese were conscious and did tend to show loyalty to Chinese brands and they preferred local food and the Chinese cuisine over the fast food restaurant McDonalds. The taste and preferences of the Chinese did not match with the cuisine of McDonalds. The company was unable to fulfill the daily requirements and the major needs of the people. The people were of the view that the cuisine of McDonalds did not suit their palate and the preferred choice was Chinese cu isine and brands. The traditional culture of the Chinese in terms of food was revolving around color, flavor, fragrance and variety. Thus, McDonalds was unable to expand in the Chinese market and develop significant customer due to taste and preferences if the people. The company failed to establish a brand loyalty and brand awareness among the people since the local people did tend to shift mainly towards the local brands and the local food (Hashmi et al. 2014). One of the reasons that the company could achieve much success in its business endeavors in China was mainly because of the failure of the company to recognize the habit of the thrift and saving among the people. It was inferred that the Chinese people preferred local brand local cuisines because they would expect greater bargain with a local brands as they could get products at a cheaper rate and would also be assured of the quality. The recent scandal circulating McDonalds would backfire against the company (Erickson 2016). Another r response from a Chinese customer was that dealing with a Chinese brand would ensure fair quality and price and would also ensure better services since there would no cultural gaps between local brands. the significance and importance of relationships between the company and the customers is a very important aspect and cultural gaps can be one of the biggest cause of the companys stagnant growth and failure in a business endeavors (Hashmi et al. 2014). Language is a major part of a culture of a country. Language barrier could one of the biggest hindrances in a business undertaking. Inability to communicate is one of the major snags in a business strategy. Language is a manifestation of culture. Chinese is the mother tongue of China and is spoken by more than three times than the English speaking population. However, English is the official language of the world. The official language is an important tool in terms of business endeavors involving different cultures. The silent language, which is the mother tongue of the Chinese people is a powerful language and the inability to adjust or induce this language in the business strategy might lead to adverse conditions and consequences for the business due to lack of communication, which is a critical factor in business (Rothlauf 2015). McDonalds tried to incorporate the same business strategy throughout China. They failed to realize that China comprises of sub-cultures with difference in style in in-land and coastal regions. The industrial revolution has changed lifestyles of people but it led to indifferent development of style and culture in different parts of China, which culminated into sub-cultures in different parts of China. The incapability of the company to adjust to different sub-cultures within China led to the downfall of the company (Ang and Van Dyne 2015). The application of the Hofstedes four dimension towards culture helps in further understanding the cultural gap between these countries. The four dimensions that are used in the study are masculinity vs femininity, Individualism vs collectivism, uncertainty avoidance and power distance. These cultural gaps depict the distinction in the culture between eastern and western countries. American and western countries are strongly dominated by individualism concept where individuals are strong dominated by individual concept. They are mainly concerned about themselves and the people that are close to them. In such a case they are not majorly influenced with what the different individuals in a society feel. On the other hand, the Chinese people are strongly dominated by collectivism concept, where they are strongly affected by how people react to changes and the elements in the external environment. The fact can be traced from the scandal that embodied McDonalds (Moore 2015). Both the countries are dominated by masculine quotient. The countries are equal in this regard. The people are prefer material goods and do not favor leisure over work. The uncertainty avoidance indicates the tolerance level of a culture toward uncertainty. The Chinese culture show level of tolerance towards uncertainty but observe rules and universal truths. The laws are amendable and flexible according to the requirement of the situations in the Chinese culture. The Chinese culture favor ambiguity as the Chinese culture comprises ambiguous elements just like the Chinese language. The Americans are completely reversed in this regard (Chaney and Martin 2013). The power distance of China is measured with a higher rating than America in this regard. The Chinese people have a strong power to question and challenge authorities and class division is assumed to be logical and fair (Rothlauf 2015). The difference in culture between eastern and western countries is also a contributing factor towards the decline of McDonalds in China. The Eastern people live in a complex and interdependent society with complex social practices. They value relationships and the contexts associated with it. The Western people tend to live in a more independent and individualistic social setting with uncomplicated social practice. They tend to value material objects than relationships and contexts (Chaney and Martin 2013). Conclusion On concluding the essay, one can see the importance and the value of culture in a social setting and in business endeavors. Culture is a driving force among people in their social practice and social behavior. McDonalds could not efficiently employ and use the business models due to cultural reasons. The scandal surrounding McDonalds turned out to be the major cause and the downfall of the company in China. The definite and unique Chinese culture had different taste and preference, which McDonalds could not achieve and the tendency of the Chinese people to favor local cuisine and Chinese food culminated into the factors, which led to McDonalds closing around 220 shops in China. Reference List Ang, S. and Van Dyne, L., 2015.Handbook of cultural intelligence. Routledge. Caganova, D., Cambal, M. and Weidlichova Luptakova, S., 2015. Intercultural managementtrend of contemporary globalized world.Elektronika ir Elektrotechnika,102(6), pp.51-54. Chaney, L. and Martin, J., 2013.Intercultural business communication. Pearson Higher Ed. Eisenberg, J., Hrtel, C.E. and Stahl, G.K., 2013. From the Guest Editors: Cross-Cultural Management Learning and EducationExploring Multiple Aims, Approaches, and Impacts.Academy of Management Learning Education,12(3), pp.323-329. Erickson, N., 2016. 3rd Party Monitors Spur Action in McDonalds Chinese Food Safety Protocols. Hashmi, A.R., Xiao, P. and Shen, Q., 2014. Entry-and Sunk-Cost Spillovers from the Rival: Evidence from Entry and Expansion of KFC and Mcdonald's in Chinese Cities.Available at SSRN 2410700. Ki, E.J., Kim, J.N. and Ledingham, J.A. eds., 2015.Public relations as relationship management: A relational approach to the study and practice of public relations. Routledge. Kinloch, P. and Metge, J., 2014.Talking past each other: problems of cross cultural communication. Victoria University Press. Moore, F., 2015. An unsuitable job for a woman: a native categoryapproach to gender, diversity and cross-cultural management.The International Journal of Human Resource Management,26(2), pp.216-230. Mor, S., Morris, M.W. and Joh, J., 2013. Identifying and training adaptive cross-cultural management skills: The crucial role of cultural metacognition.Academy of Management Learning Education,12(3), pp.453-475. Moran, R.T., Abramson, N.R. and Moran, S.V., 2014.Managing cultural differences. Routledge. Rothlauf, J., 2015.A global view on intercultural management: challenges in a globalized world. Walter de Gruyter GmbH Co KG. Samovar, L., Porter, R., McDaniel, E. and Roy, C., 2014.Intercultural communication: A reader. Cengage Learning. Spencer Oatey, H. and Franklin, P., 2014.Intercultural interaction. John Wiley Sons, Inc.. Thomas, D.C. and Peterson, M.F., 2014.Cross-cultural management: Essential concepts. Sage Publications. Ting-Toomey, S. and Chung, L.C., 2012.Understanding intercultural communication. New York, NY: Oxford University Press.